That bitchy old man who smells funny, talks to himself, and generally has a shitty disposition? Yup, that sounds like me.
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I could handle 13's. Want to see a bid base established at 10/11 that doesn't get sold into. If we can do that, 14's/15's look very possible.
I am fully aware there is no income & we are starting to approach our AS, but I have ridden this stock from .005 up to .03. Sure, we have more shares now, but we also have patents & partnerships we didn't have before.
I believe all involved at $TTCM are aware what adding another 2b shares to the AS would do to the stock price. I also believe they are NOT amoral pricks who lack concern for their investor's welfare. I firmly believe they are working on sources of revenue they do not have to stake shares against. We have all seen some pretty underhanded CEO's, & Jon & Co. don't fit that bill in my eyes.
Is all this to say they won't be forced to raise the AS? Of course not. But I am pretty damn sure of three things here:
1) LaMountain has stated "no R/S" repeatedly. He would lose a lot of credibility if it happened. I don't see it,
2) They are actively exploring options other than raising the AS,
3) If they do end up raising the AS, they will have done so only when it was that or go under. $TTCM is NOT a "dilution & R/S, dilution & R/S" scam. These are real people doing real work who would rather do share buybacks than share sales.
One squirrel's opinion.
Have to agree.
That's difficult to argue with. One could argue they have $3m in inventory & should be worth at least that much (writing off the accumulated deficit & back CEO pay), but with the new debt they have taken out (most stock-based & at toxic terms) that eats that $3m up.
I mean, I'm not a business guy - I'm a political scientist - but I've created & run businesses ... both my own & others. I also don't know exactly what is needed vis-a-vis marketing for their products or where that money specifically goes. But that being said, their marketing costs seem way too high. $BRGO is spending almost a third of their net revenue & over half of their gross profit on sales & marketing (doesn't include wages or website presence).
Furthermore, their cost of sales (raw materials) is 45% of net revenue. I don't know the jewelry business, but the way I was learned 45% is too high as well.
Professional & consulting services of $557k?!
Maybe it's me & my ignorance, but even setting aside the toxic borrowing, these expenses seem all out of whack. If Berge is pulling in $2.5 milly a quarter & STILL can't show a before tax profit, I mean, what's in going to take? Five milly in revenue a quarter? Ten?
At this clip of spending, $BRGO won't be in the black by Thanksgiving, let alone by the end of the year. And Q2 was supposed to be a profitable quarter.
Maybe it WAS profitable for Brrge ... just not for the shareholders.
Lol ... sorry, just read this.
Hopefully the tech/patents are worth something to someone.
Kind of difficult to advertise their value when the company is unsuccessful.
I mean, seriously, what is the plan here? I would honestly appreciate someone offering a solution the the question "How does $TTCM monetize this tech" and/or "How do shareholders see a return out of $TTCM"? Because I don't know if I'm seeing it.
Maybe I missed my calling. Should have been a pink sheet CEO. Pay for everything in shares & when I run out, just R/S & create a bunch more. What the perfect capitalist scam.
To be fair, it was Berge who said toxic borrowing would be unnecessary. Some people (myself included, for a minute), just believed him or, as in my case, believed the numbers bore this statement out & that Berge was an honest actor.
The numbers didn't lie. With some boot-strapping no borrowing against shares is necessary. Berge, however, did lie.
Maybe Berge should just shut up & make his shitty jewelry & leave managing the company to someone who gives two sh*ts (maybe even three) about investors.
Agreed. An outside CEO needs to come in, Berge needs to take his place on the board (chairman ... whatever), & CEO needs his own power base free from Berge's control.
Berge won't listen to reason, nor do I think he cares about the shareholders whose money he uses as if it was his own. That he expects to acquire companies & all else with shares, flooding the mkt & driving down the SP, pull an R/S when he runs out of shares to sell, & then get pissed when no one buys shares when he tries to do the same again. Worse yet, he take credit for the revenue increases lately (still not profitable) even though it was investors who bought those companies.
Oh well, at least we saw the end of dilution in late March/early April, as he promised. /s
Sorry, that was kind of ranty. Guy just insults my sense of decantcy whenever I think of him. No one should even consider having pity for this cat - he knows what he's doing & he is pitiless to his shareholders plight.
Observations...
On 12 May, $TTCM filed an 8-K stating they sent a "cease and disist" notice to Truepic, Inc., accusing patent infringement & granting 30 days to reply.
That was 75 days ago.
Did Truepic reply? Did they not? Did Truepic send flowers & an apology on a neon chocolate sign? Did the CEO of Truepic - Jeffery McGregor - offer to "service" LaMountain for the infringement? Did McGregor demand "servicing" because, like, who the Hell is David LaMountain?
Perhaps $TTCM changed their collective nine & generously gave Truepic 360 days rather than 30 to respond.
We, the shareholders, have no idea, as a follow-up 8-K was never issued. Maybe $TTCM forgot to send the original letter in a timely manner & they are just procrastinating.
Additionally, there was a rumor last week that USPTO approved all Agoras patent applications filed under the title "System & Method for Creating Geo-Located Augmented Reality Communities".
This approval in itself would be pretty big deal, especially seeing as $TTCM dabbles is in the area of augmented reality! However, USPTO approval appears just a rumor, as $TTCM would have filed the highly-technical & extraordinarily-lengthy 8-K report had approval actually occurred, as confirmed approval news would have a positive impact on shareholder value.
It is welcoming to hold shares in a company so eager to practice leanency and accommodation as well as not supporting false rumors ... even hugely positive ones.
$TTCM!
Well, you just keep on waiting, astick
He cares about SP ... just not enough to do anything other than throw words at it.
Without a higher share price, he can't leverage those shares to do much of anything with them. I mean, a billion shares is worth what, $600k? Let's say he wants to use the stock to purchase a $3m company. That means he is paying 5 billion shares of incredibly undervalued (or at least underrepresentive of sales) stock. That incredibly inefficient.
Nope, he needs a good manager to come in & fix things. If Berge is so in denial that he doesn't understand why no one wants his stock, he is in no position to run this company.
If only he would become desperate enough, for whatever reason, to sell his controlling interest. Then retail could boot him.
Perhaps we could sue him for mismanagement. Hard to prove when sales are up & expensive, but I'm out of ideas. Christ, we have all told him the problem & how to solve it, but either he doesn't want to hear the solutions or doesn't want to share the increased "profits" from the company.
And until he changes something, retail will keep punishing him.
The beatings WILL continue until moral improves!
He will not do a buyback. Someone struggling for this long is not going to throw those hard earned profits back to shareholders.
No, only solution here is Berge steps down and turns management of the company over to someone else.
Berge is looking for the reason the stock underperformed. He need look no further than himself.
So the 4m to 5m Reg A shares, that's done?
Retail brought it down from .077 to .0433 because ... sell the news? Cancelled call?
Thanks for clearing that up. Much appreciated.
Uh huh
"The Company acquired the parcels by issuing its blank check preferred stock, one share for every parcel purchased. The Company has the right to redeem its preferred stock at the time of sale. In addition to the blank check preferred the Company will be issuing 15,000,000 shares of its “Restricted” common stock to TCG World or its designee as part of the partnership agreement."
Is that where the dilution (or Reg A selling into the mkt or whatever you want to call it) is coming from? I don't know for sure. Neither do you. We don't know the details of the deal.
We DO know there are 4m to 5m Reg A shares still out there as of Friday waiting to sell.
Proof? If you can see shares being dumped into the market, don't know how I can make it more clear, honestly.
So you are saying no one is selling shares into the bid but retail.
Retail has those walls on the ask?
No bid deal that 3 dilutive MM are on the ask, 2 of them active?
You're saying that's your read?
Dilutive MM's are all over the ask like a disease ...
PAUL
OTCX
ASCM
So where is all this dilution coming from?
Reg A shares
TCG World
"The Company acquired the parcels by issuing its blank check preferred stock, one share for every parcel purchased. The Company has the right to redeem its preferred stock at the time of sale. In addition to the blank check preferred the Company will be issuing 15,000,000 shares of its “Restricted” common stock to TCG World or its designee as part of the partnership agreement."
I don't know the details of the deal, but my guess is brace for about 20m shares hitting the market starting at 9:35 am today.
Appears Zoom call cancelled today.
Kinda figuring I'll sell when it gets down in the 3's. That would about encapsulate my last 2 days.
Yes, 20m is the much more realistic high-end number.
That's what I was thinking for a minute too. But I don't know.
Between $2.75m & $3.5m in revenue,
No dilution ... none,
$1 or more bottom line profit.
Positive words about the remainder or the year, with the key being no R/S in 2022 at least.
I think that is what it would take. Is it possible? Sure. Is it likely? Personally doubt it.
But man, I am pulling for you.
Another company, even less revenue, or
Same company, different CEO.
You'd have seen your penny then.
I got out at 9 when it became evident Berge didn't much care what the stock price was. Difficult to believe this is at 4. It is truly incredible to see a company with real sales & hoping to be profitable this quarter could be so mismanaged or uncredited for or both it can't even maintain 2m market value ... when it grossed 11m last year!
I literally don't know what to call it, other than criminal. Or intentional negligence ... forgetting the exact legal term.
A month?! Be serious. 6 months to go back to trips. Maybe 9. Damn good money though.
Hail to the victors, right?
I as well.
This is, IMHO, the most level-headed, realistic view for those still holding. You gotta know there isn't much of anything gonna move the share price with conversions (constantly) on the table. Even a healthy Q2 may not do much. Revenue is good & on paper company is WAY undervalued, but no one trusts management, likely for good reason.
Berge knows what he has to do to gain investor's trust. Doesn't appear he wants to go in that direction. So we wait.
Took a starter position in $MAXD. Theoretically news coming out today. RSI looks good. Loading at .001 for a second leg ... first leg went from .0005 - .0012. Throw in some RM chatter, a 25% discount on the day, and the looks of accumulation & sure, I'll do a little slummin' down in the trips for a few days.
$MAXD
They have a bit less than a month to close the deal. 24th of June, I believe?
Yeah, not sure I would wait that long, especially with this deafening silence.
Lot of new eyes on this over the weekend as well. Could be some buying pressure from people hopping on board.
I tell you now, if news drops today, it's not good news, especially if it's after hours.
You one of those, then?
Excellent observation. Thanks for posting.